Thursday, December 20, 2007

Self Mastery - Multitasking

One of the important skill of a successful person, is that he or she is able to handle several things at the same time or is able to wear several hats or responsibilities at the same time. Gone are the traditional roles of mom and dad. Dad just need to bring home the bacon and mom just need to take care of the house and children. In the modern society, mom now need to work and dad plays a bigger role in bringing up the kids and sometimes as a homemaker too. The role of this multitasker multiples in a single parent home. It started when you are getting an education and continues on when you start to take home an income and start a family.

1. Don't think you can actually do two things at once. Even when you think you're doing more than one thing simultaneously ...... Unlike a computer, the brain isn't structured as a parallel processor. It performs actions, even very simple actions, in a strict linear sequence. You must complete the first task, or part of that task, before moving on to the next. What we call multitasking is actually task switching......

2. Prioritize. To know when to switch tasks, you must distinguish between the tasks you must perform and those you can afford to blow off......

3. Immerse yourself in your immediate task, but don't forget what remains to be done next. To switch tasks successfully, the brain must marshal the resources required to perform the new task while shutting off, or inhibiting, the demands of the previous one.......

4. Depend on routines -- and compare new tasks with old ones. Multitasking becomes easier, scientists believe, when you make parts of the process routine......

5. Make schedules, not to-do lists...... For those of us who find multitasking difficult, Burgess claims that the simplest aids -- like timers and alarms -- are the most effective. When the American astronaut Jerry Linenger was working aboard the space station Mir, he wore three or four watches with alarms set to notify him when to switch tasks.......

Do read the complete article at The New York Times online.

A great example of an effective multitasker is a good pianist playing with an orchestra. He has to follow and listen to the rest of the orchestra and follow the conductor while listening to himself playing the piano. At the same time, looking at the score which contains 2 lines of music symbols, interpret them and uses both of his hands, each play a different lines which may contrast greatly while watching all the intonation symbols on the scores and matching his playing to those intonation. And with all these going on, he has to feel the music and expresses himself through the playing of the music.

Another modern example is when you are a team member in an online multiplayer game. Each of the team member has a specific task to perform. But generally, each player has to coordinate and play his own role well for the team to win. He has to be aware of the surrounding terrain, know where the enemies, his team members and his allies are and what are them doing and their life and mana status, watch the communication window, communicate with each other, follow the leader instruction while performing his own role like going after the enemy, protect or assist his own team members, heal his team member, etc.

These 2 examples exemplified that one has to be an effective multitasker to play his role well. The 5 steps above clearly explains how a person is able to all these task well. My interpretation of an effective multitasker are these 5 steps;

1. Tasks switching in a quick succession.
2. Prioritize.
3. Focus on the task at hand while be acutely aware of the ongoing or other tasks.
4. Practice makes perfect and let the brain handles those that need less cognitive awareness.
5. Schedule and follow a list.

Another way to be a more effective multitasker is to make good use of technologies. An article "The Art of Multitasking" by Alison Overholt in one of the Fast Company Magazine issue shows how and technologies are favoured by several multitaskers.

Generally, it has to has a PDA like function which allows you to prioritize your tasks, make a list and follow it. As the name implies, it acts like a Personal Assistant. Enabling you to focus the tasks at hand while be aware of the next coming task and not be afraid of missing out any task, especially the important ones and do it with a right order, in terms of priorities or time aligned task.

It has to have the ability to let you communicate with other people, instantly, leave a message, talk to multiple people at the same, look at each other and maybe at a great distance or just next door. This will allow you and other people to be aware of what they or you are doing. It lets you keep abreast of things going on around, awareness. This may comes in the form of instant messaging, teleconference or webinar, email, fax, handphone, Internet, etc.

Another important ability is that it allows you to streamline your task. Able to let you do each task efficiently and fast, and lined them up so that you can switch from one task to the other quickly and smoothly. Organised the task in a manner where all or most can be done efficiently and timely.

The skills, knowledge and technologies to help a person to multitask in this modern society is important. This is why there are people who take strides in being a successful single parent who raise good and capable children while having a successful career in a fast pace corporate world without feeling winded but may becoming even more energetic. Well, when things get done and task accomplished, the rewards comes back in the sense of achievement and it will further nurture the inner you. Feeling winded in the modern society? Learn to multi-task well.

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Wednesday, December 19, 2007

Self Mastery - Mindset

There is a Chinese proverb which goes;

“塞翁失马,安知非福”,”塞翁得马,焉知非祸”

A quick translation, "an old man lost his horse, it maybe a blessing in disguise" , "old man gain an extra horse, there maybe an impending disaster"

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Saturday, December 8, 2007

Blogging as part of your Business Strategy

Instead of Blogging as your main source of business, blogging to support and give value to your main business. So what are the ways that blogging will help in your business.

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Friday, December 7, 2007

Bulletin Board 07 December 2007

This is where I will be making announcement pertaining to this blog and announcing of others blog that I will be setting up in the future. The bulletin board will probably be non-related to the main focus of this blog. After all, this will be just an announcement and to let you know what is happening.

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Thursday, December 6, 2007

Self Mastery Series - Passion and Motivation

Ever wonder why some people are more successful in what they are doing and also in life. The prime motivating factor behind it, is passion and motivation. Some would call it drive, etc. Motivation is more than drive and passion is more than motivation. I would be taking a holistic view of why drive, motivation and passion helps one find success in their own goals, life and businesses.

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Wednesday, December 5, 2007

Successful business catered to the masses at affordable price

TV Discovery Travel and Living, Europe Richest People, feature a number of rich people and how they started their business. Some of them have really humble beginning. The series also followed briefly their current lifestyle. Normally, one would have marvelled at the kind of life they are living now. I was thinking more intently how these people become successful. These people seems to come from a very diverse background and were in very different businesses. But still, there is a common denominator other they are very rich.

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Tuesday, December 4, 2007

What I learned from Ben

In my short meeting with him, he shared not only ideas of doing eBay business and soft skills but also other business ideas. I think I managed to caught a glimpse of the entrepreneur mind in him.

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Monday, December 3, 2007

Soft skills from Ben Dr eBay 02

This an extension of time management. It is about squeezing out any of the available time and use it productively. What Ben suggested is that when you are travelling on a bus or train, you will be doing nothing much except standing, sitting or staring at the passing scenery. So, make use of this "idle time" to think of things.

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Sunday, December 2, 2007

Self Mastery Series - Learning to like things that you don't - NLP

This is the very first of the self mastery topics that I will be touching on. Why self mastery.... it is because the path of success in life and entrepreneurship will have lots of difficulties and the chief culprit is the lack of control over one behaviour, thoughts or action. So, by mastering oneself, a person can take control of his/her own life and gear towards success and happiness. It is interesting to know that sometimes people tends to do things that is counter productive or even engage in self destructive behaviour even though one maybe fully aware of it but cannot really help it. Enough said, lets start.

This is something which I learned years ago but did not give much thought to it till now. Learning to like things that you dislike. Well, not just anything, but things that are actually good for you or can help you in a big way but somehow you just don't really like it.

I asked my colleague that how he managed to get his 1st class honours degree in one of most competitive school system in the world, Singapore. Note : Getting the grades is not enough to get 1st class honours, only the top 2-5 % of the cohort get it.

He simply put it, "learn to like the subjects that you hate." Why learn to like the subjects that you hate... no matter how much you might like your degree program, there will be bound to have some subjects that you really don't like or even hate it. These disliked subjects will pull down your overall credit points because you will definitely not be doing too well on it.

How this will work?

Remember that the pet subjects that you have back in school that always have very good grades? When you like a subject...

1. You will tend to spend more time and heart working on it.

2. You will go the extra mile become really good in it.

3. When you become really good in it, there will be a sense of satisfaction and you will feel better about it and will go through no.1 and 2 again and again.

4. With each each progression, you will repeatedly repeat the process. While doing so you will find that you can derived more joy from it and will really look forward doing it to become better and better.

5. Even when there is any obstacles, your "true love" of the subject will ensure that you will not at pulling out all available reserves to overcome it and the process will then repeat from 1 to 4.

(This is sometimes how expert or gurus are created. A great example will be Michael Jordan. How he became one of the best basketball player of all time will be a good read. In fact, in the early beginning, he is not that good. But passion, goal and sheer hard work make him into the person that we all know now. You can read more about it at a Michael Jordan tribute site.)

So, how do you make yourself to like those "good things" that you hate?

This is where Neuro Linguistic Programming (NLP) comes in.

1. A simple method is by association. Reward yourself with something that you really like when you have completed doing the targeted amount of tasks as required of the dislike subject. So, you will not hate it so much anymore. Slowly, you will start to associate things that makes you feel good with it.

2. Break it up into chunks and pieces. Take a "bite" at those pieces that does not seems so bad or those that you might even like. With each extra "bite", you will tell yourself that it is actually not so bad or maybe even really good. (George H W Bush might want to take a couple of hints here. He might fall in love eating his broccoli.)

3. Psyched yourself up. Keep telling yourself that it is good and make a list saying why it is good. Some of you might think that this is easier said than done but if you combined this with methods 1 and 2, this will be easier to accomplish.

I will appreciate it if anyone of you guys and gals out there have tried this method and give an objective feedback of your experience. Together, we will learned more ways to apply.

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Saturday, December 1, 2007

Book Titles I am reading this month

These are the books which I will be reading to up my learning curve. I do not just want to learn most of my Internet marketing skills just online alone. Hopefully, I can finished them all in a month time. Subsequently, I will be giving a review of these books which I have finished reading. I will highlight important points and lessons that I have learned especially those that I found to be of most value....

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Friday, November 30, 2007

Soft skills from Ben Dr eBay 01

Quote from a posting by Ben at IMS forum at here.

What are SOFT SKILLS, to me they are things you don't learn in school like mindset, time management, entrepreneurship, sales psychology, product development and people skills. because at the end of the day all you want to do is communicate and build a relationship with your customer.

I make use of the opportunity of meeting Ben and try to get him to share a bit in this area, particularly, Time Management.

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Thursday, November 29, 2007

Things learned from Ben Dr eBay

These are the few things I have learned from Ben.
1. Marketing
2. Customer Research
3. Use coupon
4. Several eBay accounts in several countries
5. Separate Buying and Selling eBay account
6. Combined Shipment
7. Source from cheap production country like China
8. Do not sell things that are consumed or applied
9. Foresight
10. Filling in the gaps in the distribution network
11. Generate ideas have them tested
12. Optimising your business model or methods

1. Marketing. It can be very simple. You can turn a $2 product and sell it for $30. That's a 15 times profit. How it is done - Bought a simple mouse pad for $2. Brand it with a cool name like razor edge (or something like that). Market and sell it in eBay. The guy manage to sell off maybe about 7 of it.

2. Customer Research. A neat idea from Ben. Go and check out your competitors' customers. Send them a survey form or questionnaires and find out what are the things they don't like, like, things that can be improved... etc. These things can be pertaining to the how shopping experience is like to the product they are buying.... trying to steal your competitors regulars... One of the way of getting these customers are look at all those closed transactions in eBay and send them an email. Surprisingly, these people do respond to these questionnaires.

3. Use coupon for the last 10 days before Christmas. Why coupon... simple... anything send out during the last 10 days will most likely won't be able to reach your customer before Christmas. These customers will most likely buy things from you before Christmas as Christmas gifts. So what happen to those who did last minute shopping? Use the coupon. They can buy a shopping coupon from you to give as Christmas gifts. These coupon can be sent by email and it can be printed out and send as gifts. Simple... A great way for eBay seller in Singapore to go all out till Christmas and most of these customers can be in US. Neat idea.

4. Several eBay accounts in several countries. This way you will make of the promotions pertaining to eBay from different countries. Example, this month till Christmas, Singapore eBay is giving out free subscription to its users. And sometimes in other country at another time for a different promotion.

5. Separate Buying and Selling eBay account. The idea of doing this is to protect your most precious selling account. The credibility of your selling account is paramount in achieving powerseller in eBay. Sometimes, due to a variety of reasons, a seller might give you, the buying a bad rating. It is not fully explained to me but he does give me a feeling that it seem like the chances of seller giving bad ratings to buyer is quite high... maybe did not received any money or late...

6. Combined Shipment. Combining several shipments from different sellers into a single container makes shipping costs generally lower for the individual sellers. This is usually done by shipping direct to the target customer market. In fact, Ben has started a company in China just by fulfilling this special needs of the sellers in US. It seems like not only it is profitable but the government of China are also giving extra incentives to have goods shipped out of the country by giving extra 7% profit for the peeps does shipping out of the country. The reason why they are giving out free money is that they wanted cold hard cash in return for their economy. Give money to earn money....

7. Source from cheap production country like China and sell it to a country with higher buying power. Side note, the best way for a Singaporean to do business in China is not to invest money there (Yah... you have by now know that China is a country where copyright is bluntly ignored. Copy not right but right to copy) but a good place to do your business product shopping there as this is the place to get dirt cheap goods of surprisingly good quality. (Some of these factory actually produced the originals for the original producers or so I heard) The advantage a chinese Singaporean is that he or she is fluent in Chinese and the world business language, English. Though not totally plug into the societies of these countries but we can have a reasonably good understand of the 2 highly varied countries (US and China).

8. Do not sell things that are consumed or applied. The problem with this is that the goods or products may not be able to meet the expectation of the desired effects it promised. A key thing is that whether these things are labelled as supplements and therefore there maybe no liability when it fails to deliver. But your reputation will take a huge plunge when this happen.

9. Foresight. Sometimes this can be quite simple and not difficult at all with some simple reasoning and your are well informed. A good example is how Ben make a fortune by selling PS3 to US consumers last year 2006 before. Just before Christmas, Sony only releases 200,000 units of PS3 for the 100 million or so US consumers for Christmas. No doubt the hype before the release has make the unit sell like hot cakes before it even reach the US shores. So way before Christmas, all the units bought prelaunched are all sold out. Those who has bought just need to bring their coupon to collect their PS3. He actually manage to get someone in China to sell him a container of PS3 in consignment. Only have to pay back in a months when he received his payment from his buyers. So basically, he did not pay a single cent for the goods in the first place. Some credibility and connection he has there in China.
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10. Filling in the gaps in the distribution network. This is especially so for a large country like the US. A business opportunity for smaller online retailer to fill in. Why the gaps... for example... when there is a new gadget launched, usually, the folks in large cities will received it first. Next, will be the smaller cities, followed by large town, then smaller town. Kind of like the trickle down effects. A good example is the launch of the new Apple iPhone whereby folks in towns are not able to get the phone for quite some time. So online retailers are able to quickly fill this gap and fulfilled the needs of these consumers. Online retailers can be the eBay Stores, etc.
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11. Generate ideas have them tested. You can talk to a like minded friend, surf and read up to generate fresh ideas or maybe look into old ideas and see if there is any other way to improve on it. Some will like to call this technique, brainstorming. So, do not be afraid that an idea is too silly or difficult to work. Ideas can be merged and remold into a newer better idea. So by quickly generating a lot of ideas, you will have a good chance of finding a gem in one. These are ideas gear towards making a better sales, new source of goods, getting more customers and making them into your regulars, any other tools that will help in generating more sustainable sales in the long, etc. Get this ideas tested out and see how it will fit into the overall picture of your business.
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12. Optimising your business model or methods. By optimisation, you will find that not only you will have free up more of your time but at the same time earning a bigger income. The optimisation method is simple, discard or improved upon methods or ideas that is not doing well and focus on those that are doing. Scale up the those ideas or techniques that are doing well without scaling up much of your time spent. By doing this Ben is aiming to double his income of S$5 million to S$10 million next year while spending less time doing it. Amazing isn't it. Such is the power of opitimsation and time management included.

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Met Ben Dr eBay

A quick summary of my first individual meeting with Ben.

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Hello World

test post

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